Moore Capital Management LP Has $5.18 Million Stock Holdings in Core Scientific, Inc. $CORZ

Moore Capital Management LP lessened its position in Core Scientific, Inc. (NASDAQ:CORZ) by 63.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,620 shares of the company’s stock after selling 352,500 shares during the period. Moore Capital Management LP’s holdings in Core Scientific were worth $5,185,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CORZ. Apollo Management Holdings L.P. bought a new position in shares of Core Scientific during the second quarter worth about $115,671,000. Two Sigma Securities LLC acquired a new stake in shares of Core Scientific in the 2nd quarter valued at about $235,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Core Scientific by 2.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 415,569 shares of the company’s stock valued at $10,634,000 after acquiring an additional 9,935 shares during the period. Van ECK Associates Corp increased its stake in Core Scientific by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 1,728,660 shares of the company’s stock valued at $44,236,000 after purchasing an additional 72,729 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Core Scientific by 45.0% during the second quarter. Wellington Management Group LLP now owns 1,123,721 shares of the company’s stock worth $28,756,000 after acquiring an additional 348,645 shares in the last quarter.

Core Scientific Price Performance

CORZ stock opened at $16.30 on Tuesday. The firm has a 50 day simple moving average of $21.59 and a two-hundred day simple moving average of $21.02. The stock has a market cap of $5.24 billion, a PE ratio of -3.69 and a beta of 5.59. Core Scientific, Inc. has a one year low of $13.14 and a one year high of $30.46.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The firm had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. On average, research analysts expect that Core Scientific, Inc. will post -1.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CORZ. Jefferies Financial Group increased their price objective on shares of Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research report on Friday, July 17th. Loop Capital set a $40.00 price objective on shares of Core Scientific in a report on Friday, June 12th. BTIG Research reiterated a “buy” rating and set a $38.00 price objective on shares of Core Scientific in a research note on Tuesday, July 28th. Finally, B. Riley Financial raised their target price on Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.18.

Insiders Place Their Bets

In other news, Director Elizabeth Crain acquired 6,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $18.33 per share, for a total transaction of $109,980.00. Following the acquisition, the director owned 71,348 shares of the company’s stock, valued at $1,307,808.84. This trade represents a 9.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Stanton Weiss acquired 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $19.19 per share, for a total transaction of $134,330.00. Following the completion of the acquisition, the director owned 259,262 shares in the company, valued at $4,975,237.78. This represents a 2.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 100,000 shares of company stock valued at $2,360,300 over the last 90 days. Insiders own 1.70% of the company’s stock.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.